Shulou(Shulou.com)12/24 Report--

CTOnews.com November 27 news, in December last year, Polar Krypton secretly submitted to the United States IPO application, the goal of raising more than $1 billion. On November 10, Geely announced that Polar Krypton officially submitted its IPO prospectus to the Securities and Exchange Commission.

Last night, Geely issued an announcement to update the prospectus for polar krypton shares, but polar krypton has yet to disclose the size and price range of IPO.

Data show that the unaudited income of the polar krypton group for the nine months ended September 30, 2023 was about 35.315 billion yuan, an increase of 91% over the same period last year, while the operating loss expanded to 5.23 billion yuan from 4.9 billion yuan in the same period last year.

In addition, the updated prospectus also shows that revenue from polar krypton reached 21.27 billion yuan in the first half of this year, up 136% from the same period last year, of which vehicle sales revenue was 13.175 billion yuan, up 148.75% from the same period last year, and vehicle gross profit margin reached 12.3%, up 7.6% from the same period last year.

In February this year, Polar Krypton completed a $750 million round of financing (CTOnews.com Note: about RMB 5.363 billion), with a post-investment valuation of $13 billion. Investors in this round include Mobileye Global founder, CEO Amnon Shashua and Ningde Times, Yuexiu Industrial Fund, Merchant Fund and Principal Intelligence Fund.

In addition, polar krypton officially entered the European market in June this year and was first sold in the Netherlands, Sweden and other places. According to its plan, the overseas territory of polar krypton will be expanded to six countries next year and eight in 2025.

Reuters predicts that if the IPO is successful, it will be the largest US listing of a Chinese company since Didi raised $4.4 billion in 2021.

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